Olive Technologies FZE

Olive Regional Feature List - Philippines

Complete Multi Currency Support for local and expats with the facility to change the Currency from any specific Month or Sub Period

Supports weekly, 15 days and Fortnightly Payroll within each calendar month. Generate Pay Slips and Salary Registers against each of the Sub Periods (Weekly, 15 Days or fortnights)

Facility to enter Time Sheets of past month along with the current month (or separately) and generate a single or different Pay Slips for each of the Sub Periods.

Facility to apply and record different currency exchange rates for different Time Sheet periods within a month.

Facility to show YTD figures of all the Allowances and Deductions in Pay Slips

Facility to track the Onshore and Offshore salary components as well as to track the Local and Expats separately.

Tax computation as per the Philippines statutory requirements.

Facility to set / manage user defined Tax tables for each year for multiple tax scales with the facility to set Exemption, Base Tax, Additional Tax for different Employee status like ME, ME1, ME2 etc.

Facility to start the new Tax Table effective from any specific calendar month / date Olive The Realtime Integrated Payroll Software

Facility to set the Taxable Income, completely user defined. User can choose the allowances and deductions to be formed as part of the Taxable Income.

Social Security (SSS) and Social Security Loan computation as per the Philippines Statutory requirements.

Facility to set / manage the user defined Social Security System (SSS) tables with the feature to set the Social Security, EC and Total Contributions for different wage levels.

Facility to start the new SSS Table effective from any specific calendar month.

Facility to set the SSS Income, completely user defined. User can choose the allowances and deductions to be formed as part of the SSS Income.

Phil Health (PHIC) computation as per the Philippines Statutory requirements.

Facility to set / manage the user defined Phil Health (PHIC) Rate tables with the feature to set the Total Monthly Premium, Employee and Employer share for different wage levels.

Facility to start the new PHIC Rate Table effective from any specific calendar month.

Facility to set the PHIC Income, completely user defined. User can choose the allowances and deductions to be formed as part of the PHIC Income.

Pag Ibig and Pag Ibig Loan computation as per the Philippines Statutory requirements.

Facility to set / manage the user defined formula for Pag Ibig Rate.

Facility to set the Income for the computation of Pag Ibig, completely user defined. User can choose the allowances and deductions to be formed as part of the total Income for the computation of Pag Ibig.

Built In Additional Reports available, other than the standard reports

Time Sheet Summary Report

SSS – Form R5 (Graphical as per Statutory format)

SSS – Contribution Summary (Monthly / Fortnightly / 15 days) Statements

SSS – Employee File

SSS Loan – Contribution Summary (Monthly / Fortnightly / 15 Days) statements

SSS Loan – Form ML-1

SSS Loan – Remittance Form (including Transmittal List)

SSS Loan – LMS

Pag Ibig Form M1-1 (Graphical as per Statutory format)

Pag Ibig – Contribution Summary (Monthly / Fortnightly / 15 days) Statements

Pag Ibig Loan Form P2-4 (Graphical as per Statutory format)